Laganskaya-1 exploration well spudded

The Laganskaya-1 exploration well in the northern Caspian Sea has been spudded, according to Lundin Petroleum.

Offshore staff

STOCKHOLM, Sweden -- The Laganskaya-1 exploration well in the northern Caspian Sea has been spudded, according to Lundin Petroleum.

The well, with a planned depth of 2,000 m (6,562 ft), is targeting Cretaceous and Jurassic Sandstone reservoirs. The Laganskaya structure is situated towards the southwest of the recent Morskaya discovery but on a different structural trend associated with existing onshore fields.

The Laganskaya-1 well is the second in a four well drilling program planned for 2008 and 2009.

The gross unrisked prospective resources for the Laganskaya prospect are estimated at 106 MMboe.

09/19/2008

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